Guide
Term vs. permanent life insurance
What each kind is for, what it costs, and why most families start with term.
Term life insurance pays a fixed death benefit if you pass away within a set period—typically 10, 15, 20, 25 or 30 years—for a level premium. After the term ends, coverage stops or renews at a much higher rate. It's the most affordable way to buy substantial protection during your family's most vulnerable years.
Permanent life insurance (whole life, universal life and similar products) stays in force for your entire life and builds cash value inside the policy. Premiums are much higher than term for the same death benefit, and cash value grows slowly at first. It's designed for lifelong needs: ongoing support for a dependent, estate taxes, or business succession.
How to choose
Start with your actual need, not the product. If the need has an endpoint—a mortgage you'll pay off, children who'll become independent—term coverage matches that cleanly. If the need never ends, permanent insurance or a convertible term policy might work. Many carriers allow conversion from term to permanent without re-underwriting during a set window; the quote tool shows each carrier's conversion options.
What people in Salinas often do
Many families choose a 20- or 30-year term sized to real obligations, revisited if circumstances shift. This keeps premiums low enough to buy adequate protection now, which is what matters. Susman Insurance Agency can explore permanent coverage if you have needs that won't end.